May 9, 2023 in F1RST Portfolio News
08 May 2023, Naarden, The Netherlands – Phlox Therapeutics (“Phlox”), a private biotechnology company specializing in developing innovative RNA-therapeutics for rare genetic cardiomyopathies, has secured additional seed funding to advance Phlox’s lead program aimed at rare genetic laminopathies. In this funding round Innovation Fund Noord Holland (INH), AMC Ventures Holding, and Utrecht Health Seed Fund (UHSF) have joined forces with existing investor FIRST, managed by BioGeneration Ventures (BGV), to support Phlox’s efforts. Phlox will use the funds raised in the seed financing round to advance the company’s lead program into preclinical development. This round will also enable Phlox to continue to build its team and expand its platform technology.
The company’s platform technology enables simultaneous targeting of multiple lamin mutations. The versatile nature of these RNA-designs eliminates the need for generating mutation-specific compounds to treat each distinct mutation, rendering these compounds suitable for most lamin mutations. Phlox is committed to utilizing this proprietary platform technology to develop RNA-therapies that can effectively treat genetic diseases resulting from mutations in a single gene. This includes addressing laminopathies, a specific and frequently severe form of heart failure caused by structural protein defects in the cardiac cell nucleus due to mutations in the lamin gene.
Commenting on the seed financing round, Phlox’ CMO and cardiologist Yigal Pinto said, “We are thrilled to have the support of this group of investors as we work towards developing life-changing RNA-therapies for many of my patients who struggle with a cardiomyopathy for which there are no disease modifying therapies. This funding will enable us to accelerate our efforts to bring these therapies to the clinic and help improve the lives of our patients that are suffering from this destructive disease.”
Wouter Keij, Fund Manager of Innovation Fund Noord-Holland commented on behalf of all four investors “We are excited to work with the Phlox team and to support such an impactful innovation to pave a way for more RNA-based therapies to come. We are proud to be backing Phlox in their effort to bring these potentially life-changing therapies to those in need for treatments for cardiac diseases.”
